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    Monopolistic Competition & Oligopoly

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    Explain which market structure this firm operating in attached file. Compare the long-run quantity and price to those of a perfectly competitive firm. What accounts for the difference? Is the equilibrium price greater than, equal to, or less than marginal cost? Why or why not?

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    Explain which market structure this firm is operating in this graph?
    Answer: The firm is operating in monopolistic competition.
    Compare the long-run quantity and price to those of a perfectly competitive firm. What accounts for the difference? Is the equilibrium price greater than, equal to, or less than marginal cost? Why or why ...

    Solution Summary

    An explanation of which market structure the firm is operating in is determined. The expert compares the long-run quantity and price of the perfectly competitive firms.

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